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2015 (10) TMI 1984 - AT - Central ExciseReversal of Cenvat / Modvat Credit - Removal of Capital goods after use - Transfer of credit - Penalty under Rule 25 of the CER 2002 - Held that:- Rule 3 (5) of the Cenvat Credit Rules, 2004 provides for the reversal of Cenvat Credit only when the goods are removed as such . In the facts of the case as admitted, the goods have been used for about 10 years. Thus, the goods are not removed as such , no credit is required to be reversed. Further, in the second proviso to Rule 3 (5), wherein it was provided that 2.5% allowance of the credit taken, is to be given for each quarter of use. Under the facts and circumstances, the appellant is held to be entitled to 100% rebate on this count also - Decided in favour of assessee.
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